Private-equity firms Vista43 million acquisition Tibco enterprise software company

according to foreign media reports, the business Software maker Tibco Software inc. announced Monday local time, the company has agreed to private-equity firms Vista Equity Partners, a $4.3 billion takeover proposal is put forward.

according to the agreement, Vista will acquire Tibco stock at $24 per share price, than the 23 of this month, the company also shares closed 26% higher than that of the price. Tibco shares closed at $23.65, up 21.2%.

Tibco is also following the Compuware and BMC Software, is a private enterprise Software company recently. The Praesidium Investment Management Co, LLC and Starboard Value LP and other activist investors to the company caused great pressure.

Tibco, founded in 1997, was originally a Reuters a subsidiary holding company, in 1999, chief executive of rana Dave led the company listed. Now Reuters holding company is not Tibco’s main shareholders. The company is located in palo alto, California, in sales, the main inventory management and product development, the area of enterprise software. Spotfire Tibco products, including its flagship products are faced with the huge pressure of competition, in the past year Tibco shares also fell 25%. Due to a software profit has been falling, since August 16, the company has been to reassess its strategic choice.

Tibco, chief executive of d, vic, Dave said in a statement: “as a private company, Tibco will be more flexible service to our customers, implement company’s long-term strategy.”

transaction both sides has said the deal still needs to be approved by the shareholders and regulators are expected to be completed in the fourth quarter.

source: netease science and technology

You may also like...